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Celestia to Unlock $1.06 Billion in TIA Tokens: Market Braces for Volatility

October 29, 2024
Celestia to Unlock $1.06 Billion in TIA Tokens: Market Braces for Volatility
  • If buyers emerge following the unlock, TIA could break through the $6.77 resistance level, potentially leading to upward momentum.

  • Celestia is preparing to unlock approximately 80.77% of its total supply of TIA tokens, valued at $1.06 billion, in just ten days, which is expected to significantly impact the market direction.

  • However, technical analysis reveals a head and shoulders pattern on the TIA/USD chart, suggesting a potential bearish trend reversal if the price falls below critical support levels.

  • Currently, TIA is trading at around $5.37, reflecting a slight increase, but bearish sentiment persists due to low social engagement and negative funding rates.

  • Should buying pressure increase, TIA might rise to $7.30 and even reach $10.40 after the anticipated token supply shock.

  • Despite some positive indicators, overall technical analysis suggests weakening bullish momentum and limited strength for TIA, with social engagement remaining low.

  • If market reactions to the unlock are negative, TIA could fall towards its support level of $3.83, indicating a potential breakdown.

  • The upcoming unlock event is critical for TIA's future performance, as the market's reaction to the influx of unlocked tokens will determine the token's trajectory.

  • Analysts are closely monitoring whether TIA can surpass the next major resistance level of $6.9, as doing so could trigger a larger rally, with targets potentially reaching $11.9.

  • Specifically, if TIA's price drops below the neckline at $4.73, it could decline further to $3.87, although maintaining defense above this level may avert significant losses.

  • Concerns are mounting regarding potential selling pressure from this large token release, which could negatively affect TIA's price.

  • The relative strength index (RSI) indicates a balanced market at 55.19, suggesting slight bullish potential, while the MACD is nearing a bullish crossover.

Summary based on 3 sources


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